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Trade With The UK Still Growing As Irish Trade Surplus Grows

Exports from Ireland to the UK have risen by 10% in April despite growing economic uncertainty surrounding Brexit, according to the latest figures from the Central Statistics Office (CSO).

Exports increased by €102 million to €1,131 million when compared with April 2018, and accounted for 9% of Ireland’s total exports this month.

The value of goods exported to the UK in the first four months of 2019 also increased to €4,752 million, an increase of €369 million (8%) in the first four months of 2018.

Ireland also imported more from the UK in April this year, increasing imports by €113 million (8%).

In total, Ireland imported over €1,500 worth of goods from the UK, which accounts for 22% of the value of total imports in April 2019.

The value of goods imports from the UK for the period January to April this year was €6,708 million, an increase of €899 million, (15%) on the first four months of 2018.

Beyond The UK

Overall, goods exports increased by €1,471 million (13%) to €12,455 million in April compared to March, while goods imports increased by €120 million (2%) to €7,101 million.

Ireland was left with a seasonally adjusted trade surplus to €5,355 million in April 2019, after a 34% increase this month.

The EU accounted for €5,742 million of total goods exports in April 2019, just under half of our total exports, and increased by €392 million (7%) compared with April 2018.

The USA was the main non-EU destination accounting for €3,998 million (32%) of Ireland’s total exports in April, and €1,241 million (18%) of its total goods imports.

The exports of food and live animals increased by 7.6% in April, and by 4.7% for the first three months of the year when compared to 2018.

Imports in this commodity fell in April by 0.3% but rose by 6.8% in the first three months of the year when compared with 2018.

Beverages and tobacco exports rose by 34% in April, and by 27% in the first three months of the year when compared with 2018, wholly driven by beverage exports.

Imports of beverages and tobacco increased by 12% in April while they increased by 22% in the first three months of the year when compared with 2018.

 

© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.

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